Before introducing Nagad in Bangladesh, it was nearly unimaginable that anyone could receive money only with their mobile number, having no account. At that time, Mr. Tanvir came with the idea to make it viable for people to transact money with a mobile number. This simple yet innovative idea has broken the barrier of the traditional mobile banking system.
SMTAP: Innovative Money Transfer
The world is going through a financial revolution, and the whole area is rolling very fast. So to keep in pace with this evolving sector, the most important thing is how fast and easily you can send or transfer money. SMTAP (Send Money To Any Phone number) is such an invention in this regard.
As a result, beneficiaries from any corner of the country, either urban or far most rural areas, are under the same roof to send or receive money. No matter if s/he has a bank account or not. All you need a handset and a personal mobile number. Nagad is the first company to implement the system, creating a Renaissance in the FinTech Industry of Bangladesh.
Business Perspective of SMTAP
The SMTAP facility has created enormous opportunities in the DFS (Digital Financial Services) in Bangladesh. People are enjoying a hassle-free and secure money transfer system for their day-to-day transactions.
So, the aftermath of Bangladesh’s business has changed with the inclusion of many companies and enterprises with Nagad. In one year, Nagad has reached 50 Million users, enabling BDT 100 Crore transactions per day, a new milestone for any Bangladeshi Companies ever.
Benefits of SMTAP
- No Bank Account Needed
- Simple Yet Secure Gateway
- Cash-out Facility Via Agent
- Fastest Way Of Transection
- Freedom of Receiving Money
Because of the numerous advantages of SMTAP, the initiative Nagad has become one of the most popular DFS in Bangladesh. And Mr. Tanvir is the mastermind behind all of these, whose prodigy has triggered Bangladesh’s financial growth.
However, it was never easy to do, and things did not happen overnight. The leadership and expertise of Tanvir have made things possible and are continuing with pride.